Scor’s Global P&C CEO Peignet retires as Conoscente takes the helm


Scor’s chief executive officer of Global P&C Victor Peignet is to retire from the French reinsurance giant with Jean-Paul Conoscente taking up the role following his departure.


Axa XL to slash workforce in Europe


Axa XL has set out plans to cut 711 positions from its European workforce, 7.5 percent of its global headcount.


MSI teams up with Russia’s Ingosstrakh


Mitsui Sumitomo Insurance (MSI), has penned a distribution deal with Russian non-life insurer Ingosstrakh Insurance Company.


Mapfre’s earnings shed 25% as goodwill writedown hits bottom line


Mapfre saw its earnings fall nearly 25 percent in 2018 as catastrophe losses, currency depreciation and a massive prior year goodwill writedown negatively impacted results but the Spanish (re)insurer received praise from analysts for its underlying performance.

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Former Axa exec Touffut launches InsurTech MGA


Former Axa Global Parametrics CEO Tanguy Touffut has launched a new MGA called Descartes Underwriting with funding from BlackFin Tech.

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Travelers gains regulatory nod for Irish post-Brexit hub


Travelers Europe has been granted a licence by the Central Bank of Ireland for a new, wholly owned insurance subsidiary incorporated in the Republic of Ireland.

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Scor’s share price closes 11.4 percent down as Covea walks away; threatens legal action


Scor’s share price slumped almost 12 percent today after potential acquirer Covea has confirmed it will no longer pursue a potential acquisition while prompting another bitter war of words between the two French firms.

Union Jack and Switzerland flags

​Switzerland and UK agree post-Brexit pact


The UK and Switzerland will allow each other’s insurers to operate as branch offices following a bi-lateral agreement signed between the two countries this week.

Tractor Harvesting

Covéa partners with MGA Imperium on rural motor


Covéa Insurance has partnered with iFarm Underwriting on cover for motor fleets targeting rural businesses.

2018 ‘Elevated, yet manageable’ catastrophe loss year i

Aon pegs nat cat insured losses at $90bn


Carriers are on the hook for $90bn for losses stemming from natural catastrophes in 2018, according to Aon.


Darag snaps up Italian legacy book from Donau Versicherung


Ambitious European legacy firm Darag has agreed to purchase a portfolio of Italian non-life business from Donau Versicherung AG (Donau).

Zurich, Switzerland

Eliot Partnership expands to Zurich as Swiss market booms


Zurich’s importance as a European reinsurance hub has been recognised by the London-headquartered search firm Eliot Partnership with the launch of a new hub in Switzerland.

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Germany and China agree to bolster (re)insurance ties


Germany has signed an agreement with China designed to boost the level of understanding and cooperation between the two countries on (re)insurance business and pledged to further open market access and deepen cooperation to broaden economic ties.

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Axa XL unit completes move to Ireland ahead of Brexit


Axa XL has completed the transfer of its European insurance company, XL Insurance Company SE (XLICSE), from the UK to Dublin ahead of the UK’s exit from the EU in March 2019.

Marine, cargo ships

North P&I Club secures Dublin nod for Brexit hub


North P&I has secured its post-Brexit trading following confirmation that its Irish subsidiary, North of England P&I DAC, has received approval as a non-life insurer from the Central Bank of Ireland.


Maiden hands European automotive group to Allianz


NASDAQ-listed Maiden Holdings has sold its European automotive group to Allianz Partners for an undisclosed sum.

Hurricane Florence from Space

Perils pegs final Friederike loss at Eur1.67bn


Loss aggregation firm Perils has pegged insured losses stemming from for Extratropical Cyclone Friederike - also known as David – at Eur1.67bn ($1.91bn).

Insured losses from natural catastrophes since 2011*

Willis Re pegs nat cat insured losses at $71.5bn


Carriers are on the hook for a $71.5bn 2018 nat cat bill, Willis Re has said.

1.1 renewals

Guy Carp: Europe cat renewals weighs on 1.1 pricing


Despite 2018 being one of the worst-ever years for global insured cat losses, ample capacity and stiff competition among reinsurers saw European cat programs renew an average of 2.6 percent down at the 1 January renewals, according to Guy Carpenter.

Talanx konzernzentrale

AM Best downgrades Talanx and Hannover Re’s new EUR1bn European carrier


AM Best has downgraded the financial strength rating and long-term issuer credit ratings of HDI Global Specialty SE.